Area Bank Merger Announced

MutualFirst Financial, Inc. (Nasdaq: MFSF) (“MutualFirst”) and Universal Bancorp (“Universal”) have announced  that they have entered into a definitive agreement (the “Agreement”) pursuant to which Universal will be merged into MutualFirst, with MutualFirst being the surviving entity. Upon the closing of the transaction, BloomBank, the wholly owned bank subsidiary of Universal, will merge into MutualFirst’s wholly owned bank subsidiary, MutualBank. At closing, the combined company is expected to have $2 billion in total assets. This transaction will increase MutualFirst’s branch network to a total of 40 branches.